Australia's property market grapples with gravity as new homes fell to the 2nd lowest amount on...

Australia's property market grapples with gravity as new homes fell to the 2nd lowest amount on record in July. The HIA's (Oz's version of the NRA) top economist says low confidence, tight credit and high taxes are to blame for "recessionary conditions" in housing, but it's still a great time to buy! The aussie fell to a one-month low, but has since rebounded to unchanged.